EXHIBIT 99.1

Informational Cover Letter Regarding The Solicitation Of Five (5) Competing Chapter 11
Plans In The Bankruptcy Case Of Fremont General Corporation

     You are receiving this cover letter and an accompanying package of materials because you are a creditor, asserted creditor, or shareholder of Fremont General Corporation, a Nevada corporation (“Fremont”). Fremont filed a voluntary petition for protection under chapter 11 of the United States Bankruptcy Code on June 18, 2008, and has been proceeding as a debtor and debtor in possession in a bankruptcy case pending before the United States Bankruptcy Court for the Central District of California, Santa Ana Division.

     Over the last several months, Fremont, the Official Committee of Unsecured Creditors appointed in Fremont’s bankruptcy case (the “Creditors Committee”), the Official Committee of Equity Holders appointed in Fremont’s bankruptcy case (the “Equity Committee”), and three shareholders have been engaged in a process to obtain Bankruptcy Court approval for what is called “plan solicitation.” This cover letter and the accompanying materials, all of which have been reviewed and approved by the Bankruptcy Court for dissemination to you, are the results of that process.

     There are five (5) separate and competing plans that have been approved for plan solicitation in Fremont’s bankruptcy case. Each of the parties that has proposed a plan (generally referred to as a “plan proponent”) has obtained the Bankruptcy Court’s approval for a disclosure statement describing that proponent’s plan and a 3-page “solicitation letter” explaining how that plan proponent believes you should vote your claim or interest. The five plan proponents you are being asked to consider are:

	•		The Creditors Committee.
	•		The Equity Committee.
	•		New World Acquisition, LLC.
	•		Ranch Capital, LLC.
	•		Signature Group Holdings LLC.

     Fremont is not prosecuting its own chapter 11 plan. Moreover, Fremont is not expressing a preference at this time as to any of the plans that have been filed by these five plan proponents.

     Each of the five plans proposes to effect a merger between Fremont and certain of its subsidiaries, which will need to be approved by the Bankruptcy Court. Each of the plans proposes to treat the holders of Fremont’s 7.875% Senior Notes due 2009, the holders of general unsecured claims against Fremont, the holders of the 9% Trust Originated Preferred Securities (or “TOPrS”) issued by Fremont General Financing I, the holders of claims subordinated under

section 510(b) of the Bankruptcy Code, and the holders of Fremont’s common stock in different fashions. Although you should carefully review all of the enclosed documents to understand fully what each of the five plan proponents propose, Fremont and its professionals have prepared the comparison chart attached as Exhibit 1 to provide you with a concise summary of some of the essential terms and differences among the five plans’ features. In addition, the five plan proponents have undertaken to prepare a “pro forma” equity statement as of April 30, 2010, which is attached along with additional data demonstrating the pro forma effects of the proposed plans as Exhibit 2. While the Bankruptcy Court has approved both exhibits, Exhibit 2 is the collective work product of the five plan proponents. Moreover, Exhibit 2 includes information based upon the projected “book value” of assets and liabilities, which are subject to certain limitations and do not include value attributable to future business performance.

     You should also be aware that the five plan proponents have prepared financial information and projections regarding their respective plans, which financial data is discussed in many of the disclosure statements and solicitation letters. Fremont has not endorsed any of that financial data. Fremont has, however, provided each of the five plan proponents with access to its unaudited books and records as of various dates in 2009. Using that common information, the plan proponents have prepared balance sheets and projections based upon their own adjustments and assumptions. Such modifications may differ materially among the proponents, and may also differ materially from the financial information provided to them by Fremont. Furthermore, such modifications may also differ materially from the common information contained in Exhibit 2. Each of the plan proponents has described its financial assumptions and adjustments in its respective disclosure statement, and you should consult and read those sections of the five disclosure statement with care. Moreover, there may be certain important aspects of the consolidated Fremont entities’ assets and liabilities that are not fully quantified in Fremont’s unaudited books and records but are more fully described in the plan proponents’ disclosure statements. Once again, you should review Exhibit 1, Exhibit 2, and all the relevant disclosure statement sections with care.

     The Bankruptcy Code contains detailed requirements for approval, or “confirmation,” of a chapter 11 plan. However, even if all the proposed plans meet those requirements, the Bankruptcy Court may only “confirm” one of the five plans, which makes your votes and preferences regarding those competing plans very important. You should carefully review the five solicitation letters included with this package and the five separate disclosure statements contained on the enclosed CD. You should also carefully read and follow the enclosed instructions and notices, and if you wish to participate in the voting process, you should properly and timely complete and return the enclosed ballots and preference election forms pursuant to the instructions. YOU HAVE THE RIGHT TO VOTE IN FAVOR OF MORE THAN ONE PLAN AND TO INDICATE YOUR PREFERENCE FOR ANY, SOME, OR ALL OF THE FIVE PLANS (WITHOUT REGARD TO WHETHER YOU VOTE TO ACCEPT OR REJECT A PARTICULAR PLAN). Please note that these documents are complex and that each of the plans may affect your rights in important ways, and as a result, you may wish to seek the assistance of an advisor. In the event that you have questions about any of the five plans, you should contact the proponent of the underlying plan using the information provided in that plan proponent’s disclosure statement.

Exhibit 1

Fremont General Corporation
Ch.11 Reorganization Plan Comparison (as of January 25, 2010)

Page 1

Fremont General Corporation
Ch.11 Reorganization Plan Comparison (as of January 25, 2010)

Page 2

Fremont General Corporation
Ch.11 Reorganization Plan Comparison (as of January 25, 2010)

•		7 member board: (6) OEC and Don Royer (if he chooses to serve)

Fremont General Corporation
Ch.11 Reorganization Plan Comparison (as of January 25, 2010)

Fremont General Corporation
Ch.11 Reorganization Plan Comparison (as of January 25, 2010)

Fremont General Corporation
Ch.11 Reorganization Plan Comparison (as of January 25, 2010)

Fremont General Corporation
Ch.11 Reorganization Plan Comparison (as of January 25, 2010)

Fremont General Corporation
Ch.11 Reorganization Plan Comparison (as of January 25, 2010)

Page 8

Fremont General Corporation
Ch.11 Reorganization Plan Comparison (as of January 25, 2010)

Page 9

Exhibit 2

Shareholders Equity Bridge — Projected Effective Date Book Value (including Estimated Reserves) and Shares Outstanding
(millions)

										OEC -				NWA -				NWA -				RC -				RC -
						OEC -TOPrS				TOPrS				TOPrS				TOPrS				TOPrS				TOPrS				SGH / McI
		OCC				accept				reject				accept				reject				accept				reject				/ Hamot
Shareholders Equity — 12/31/09		$	99.64			$	99.64			$	99.64			$	99.64			$	99.64			$	99.64			$	99.64			$	99.64
January Operating Loss		$	(2.75	)		$	(2.75	)		$	(2.75	)		$	(2.75	)		$	(2.75	)		$	(2.75	)		$	(2.75	)		$	(2.75	)
February Operating Loss		$	(2.75	)		$	(2.75	)		$	(2.75	)		$	(2.75	)		$	(2.75	)		$	(2.75	)		$	(2.75	)		$	(2.75	)
March Operating Loss		$	(3.00	)		$	(3.00	)		$	(3.00	)		$	(3.00	)		$	(3.00	)		$	(3.00	)		$	(3.00	)		$	(3.00	)
April Operating Loss		$	(3.00	)		$	(3.00	)		$	(3.00	)		$	(3.00	)		$	(3.00	)		$	(3.00	)		$	(3.00	)		$	(3.00	)
Book Senior Notes Interest		$	(8.37	)		$	(8.37	)		$	(8.37	)		$	(8.37	)		$	(8.37	)		$	(8.37	)		$	(8.37	)		$	(8.37	)
Book Senior Notes Interest — settlement		$	—			$	—			$	—			$	—			$	—			$	—			$	—			$	(1.50	)
Book TOPrS Interest		$	(17.58	)		$	(17.58	)		$	(17.58	)		$	(17.58	)		$	(17.58	)		$	(17.58	)		$	(17.58	)		$	(17.58	)
Book / reserve for other contingent liabilities
GUC Post Petition Interest		$	(0.43	)		$	(0.43	)		$	(0.43	)		$	(0.43	)		$	(0.43	)		$	(0.43	)		$	(0.43	)		$	(0.43	)
Reserve for Disputed/Contingent/Unknown Claims		$	(10.60	)		$	(10.60	)		$	(10.60	)		$	(10.60	)		$	(10.60	)		$	(10.60	)		$	(10.60	)		$	(10.60	)
Transaction Expenses — KPMG		$	—			$	—			$	—			$	(1.73	)		$	(1.06	)		$	(2.69	)		$	(1.76	)		$	(2.48	)
Transaction Expenses — Plan Proponents		$	—			$	—			$	—			$	(0.40	)		$	(0.40	)		$	(0.40	)		$	(0.40	)		$	(0.40	)
Reserve for SEC Reporting Compliance Expense		$	—			$	(2.00	)		$	(2.00	)		$	(2.00	)		$	(2.00	)		$	(2.00	)		$	(2.00	)		$	(2.00	)
Mgmt/Employee Severance		$	(4.65	)		$	(4.65	)		$	(4.65	)		$	(4.65	)		$	(4.65	)		$	(4.65	)		$	(4.65	)		$	(4.65	)
Reverse Accrued Bonus (included above)		$	1.50			$	1.50			$	1.50			$	1.50			$	1.50			$	1.50			$	1.50			$	1.50
Shareholders Equity
Estimated at 4/30/2010		$	48.02			$	46.02			$	46.02			$	43.89			$	44.56			$	42.93			$	43.86			$	41.64
New Equity Injection		$	—			$	—			$	—			$	7.00			$	14.42			$	5.90			$	17.45			$	10.06
Gain on TOPrS Conversion		$	3.22			$	42.26			$	3.22			$	30.01			$	3.22			$	39.26			$	3.22			$	41.01
Pro Forma Shareholders’ Equity		$	51.24			$	88.27			$	49.24			$	80.89			$	62.20			$	88.08			$	64.53			$	92.70
Pro Forma Shareholders’ Equity Per Share, excl Warrants		$	0.65			$	0.83			$	0.63			$	0.82			$	0.63			$	0.84			$	0.61			$	0.83
Shares Outstanding (MM)
Current			78.38				78.38				78.38				78.38				78.38				78.38				78.38				78.38
Shares Issued — TOPrS Conversion			—				27.50				—				10.60				—				21.00				—				21.00
Shares Issued — New Equity Injection, excl Warrants			—				—				—				10.00				20.60				6.00				27.00				12.50
Shares Outstanding — pro forma, excl Warrants			78.38				105.88				78.38				98.98				98.98				105.38				105.38				111.88